The Group reported a 7.8% year-on-year rise in shipment volumes for the third quarter of 2025, supported by strong performance in its Sports segment and new customer orders.
Unaudited consolidated revenue for the quarter rose 3.7% to US$404.2 million (2024: US$389.7 million), while revenue for the first nine months of 2025 grew 1.7% to US$1,179.2 million (2024: US$1,159.7 million). Shipment volumes over the nine-month period increased 5.1% year-on-year. Average selling prices declined, reflecting the higher contribution from the lower-priced Sports segment.
The company noted that Q3 revenue and shipment growth benefited from a low-base effect, as around one million pairs were shipped early to certain customers in the first half of 2024, reducing last year’s comparable figures.
Stella said it has made “solid progress” in addressing start-up challenges at its new facilities in Indonesia and the Philippines. These lessons will reportedly guide the ramp-up of additional production sites set to begin operations in the second half of 2026.
The Group reaffirmed its plan to return up to US$60 million annually to shareholders in 2025 and 2026 through share repurchases and special dividends, in addition to regular dividends with a payout ratio of about 70%.
Chairman Lawrence Chen confirmed that the three-year plan (2026–28) is almost formalised, which includes the intention to scale up total production capacity by an additional 20 million pairs starting from this year. He added: “We remain focused on acquiring and ramping up new customers, particularly in the luxury, high-end fashion and sports categories.”
